Our lawyer has identified a a problem with the lease for the flat we are buying in Kingston Park. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the lender is content with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
Finally the sale completed on my house in Kingston Park last July but our buyer keeps texting daily to say their solicitor needs to hear from mine. What should have happened following completion?
After completion of your sale your solicitor is committed to deliver the transfer deeds and all supplemental paperwork to the buyer’s lawyers. Depending on the transaction, your solicitor must also send confirmation that the legal charge in favour of the lender has been discharged to the buyers conveyancers. There is unlikely to be post completion requirements unique to conveyancing in Kingston Park.
My Conveyancer in Kingston Park is not on the Barnsley Building Society Solicitor Panel. Is it possible for me to continue with my prefered solicitor even though they are not on the Barnsley Building Society list of approved lawyers?
The limited options open to you here include:
- Complete the purchase with your preferred Kingston Park solicitors but Barnsley Building Society will need to instruct a conveyancer on their list of acceptable firms. This will result in additional overall legal fees and cause delays.
- Choose a new solicitor to act in the purchase, obviously checking they are on the Barnsley Building Society panel
I require fast conveyancing in Kingston Park as I am under an ultimatum to complete inside 4 weeks. A mortgage is not required. Can I escape the need for conveyancing searches to save money and time?
As you are not obtaining a mortgage you have the choice not to have searches conducted although no solicitor would suggest that you don't. With plenty of history conveyancing in Kingston Park the following are instances of what can show up and adversely affect future saleability: Refused Planning Applications, Overdue Fees, Overdue Grants, Unadopted Roads,...
I am looking for a leasehold apartment up to £305k and identified one near me in Kingston Park I like with a park and railway links in the vicinity, however it only has 51 remaining years left on the lease. There is not much else in Kingston Park for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage that many years will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Kingston Park. I've stumble upon a site which seems to have the ideal solution If there is a chance to get all formalities completed via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?